Continued from page 1

The revised regulations include new water-testing requirements, public input on permits and enhanced chemical disclosure.

PENSIONS

IBM shifts 401(k) policy to once-a-year matches

IBM is making changes to its employee benefits that may cause other large corporations to follow suit. The technology company will begin making contributions to employees’ 401(k) accounts in lump-sum annual payments, rather than at the time of each paycheck. It’s a move that will help the company cut retirement plan expenses.

Employees were notified this week that matching contributions will be made just once annually, on Dec. 31, beginning next year. “This change reflects our continuing commitment to invest in our employee 401(k) plans while maintaining business competitiveness in a challenging economic environment,” IBM Corp. spokesman Doug Shelton said.

The end-of-the-year 401(k) match won’t be unique to IBM, but analysts say the company’s move could lead other major employers to consider making less-frequent contributions.

COURTS

Goldman Sachs fined $1.5 million in case of ex-trader

Goldman Sachs & Co. is paying $1.5 million to settle civil charges that it failed to properly supervise a former trader who cost the firm more than $118 million.

The Commodity Futures Trading Commission announced the action Friday. The CFTC says Goldman also agreed to make changes in its supervision procedures for futures trading.

The CFTC last month filed civil fraud charges against the former trader, Matthew Marshall Taylor. Regulators said he failed to disclose an $8.3 billion position on a futures contract that came back to hurt Goldman in December 2007. The agency is seeking unspecified penalties against Taylor.

Taylor’s trading didn’t affect customer funds, Goldman spokesman Michael DuVally said Friday. The firm discovered his activity on Dec. 14, 2007. Mr. Taylor eventually admitted misconduct and was terminated, Mr. DuVally said.